MGA Model Evolution in Asia

Roland 2 Insurer Berger The crisis has shown insurers the potential of digitization and the need to push prevention as a way to be better prepared Focus on Pillars 1 & 2 & 4 M > Distribution: - Accelerate Digitalization Pillar 1 Expected rise in online sales resulting from the duration of the confinement/social distancing measures and the habits reinforced Digital lead generation and lead conversion (for simple products with limited need for advice) - Reinforcement of customers' need for intimacy and advice for complex products > Administration and operational processes: Digital processing of inbound and outbound documents - Must-have distant and digital servicing (e.g. electronic signature in underwriting, policy & claim management, policy renewals) Claim management: - DIY/Selfcare claim reporting (e.g. pictures taken by insured) Al-based damage assessment and Al-based fraud management Tele-health and online services Develop Prevention Services Pillar 2 > Higher focus on prevention-based products; e.g. use of telematics in fleet management and loT in property insurance -implementation of pay-as-you- use tariffs; satellites for home insurance > Cyber risk coverage and prevention in the wake of increased use of data and home working > Specific protection products such as death, loss of job etc. might offer an opportunity to boost penetration > Wellness and wellbeing services to improve health conditions to employees in all dimensions (physical, mental, financial, community): - Health prevention on site with check-ups and primary care Support to employees to manage their elderly when dependent - Reduction of absenteeism > Services allowing facilitation of home working Scale-Up Pillar 4 in a consolidating economy > Partnership with service providers close to insurance in order to increase customer base and develop customer loyalty - - Motor: with mobility players Home: with security services or telecom providers Health: with healthcare providers > Alliance with competitors (nationally or internationally) to increase buying power in Insurance Procurement, for car repair or home repair in particular > To create barriers to entry, higher investment in services which can be bundled with insurance products or be sold stand-alone (e.g. tele- consultation services) > Continued cooperation with InsurTechs to accelerate solution development, including cooperation for advanced data collection Source: Roland Berger 20200525 MGA model evolution Asia_vf.pptx | 14

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